ByteLight just came out of stealthmode and announced the investment. How does the tech work?

ByteLight’s patented solution turns LED light sources into positioning beacons. “ByteLight-enabled” lights transmit proprietary signals which can be picked up by camera-equipped mobile devices. Once signals are detected, the device then calculates its position without the need for an active network connection. ByteLight’s market-leading indoor positioning solution is accurate to less than one meter and takes less than a second to compute. To enhance the functionality of its solution, the Company also offers tools that make it simple to provide location-based digital content, analyze traffic patterns and measure engagement.

TeleNav(R), Inc. (TNAV), the leader in personalized navigation, announced today that it has acquired Local Merchant Services, Inc., d.b.a. ThinkNear, a privately held hyper-local mobile advertising company located in Los Angeles, California, for consideration of $22.5 million, consisting of approximately $18.5 million in cash, plus restricted stock and assumed options. The acquisition, which closed on October 10, 2012, added ThinkNear's team of twelve employees, including its two co-founders, to Telenav's mobile local advertising group.

ICAP Patent Brokerage announces for auction a search engine software technology providing improved results and rankings with relevance annotations by geographic area from other users. This lot from Geodex LLC will be included in the 17th ICAP Ocean Tomo IP Auction on November 29, 2012, at The Ritz Carlton in San Francisco, California.